crypto blog
Binance ban off the cards, says Philippine trade and industry department
A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July. Local think tank Infrawatch PH had asked the DTI to investigate Binance for the promotion of its services and offerings, which the group believes was done without the necessary permits. Binance had looked to acquiesce the parties involved, telling Cointelegraph that it intends to secure virtual asset service provider and e-money issuer licenses in the Philippines. ...
Binance ban off the cards, says Philippine trade and industry department
A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July. Local think tank Infrawatch PH had asked the DTI to investigate Binance for the promotion of its services and offerings, which the group believes was done without the necessary permits. Binance had looked to acquiesce the parties involved, telling Cointelegraph that it intends to secure virtual asset service provider and e-money issuer licenses in the Philippines. ...
PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher
As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, gives better security and positions the crypto as a digital bond. Raman said that after the Merge, ETH inflation will drop from 4.3% to 0.22%. The researcher explained that this gives the ecosystem a 95% reduction in issuance, limiting the number of ETH that can be sold in a day. Additionally, the researcher also explained that the platform would be running o...
PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher
As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, gives better security and positions the crypto as a digital bond. Raman said that after the Merge, ETH inflation will drop from 4.3% to 0.22%. The researcher explained that this gives the ecosystem a 95% reduction in issuance, limiting the number of ETH that can be sold in a day. Additionally, the researcher also explained that the platform would be running o...
Tether fortifies its reserves: Will it silence critics, mollify investors?
There is an old Arabic proverb: “The dogs bark, but the caravan moves on.” It could summarize the journey to date of Tether (USDT), the world’s largest stablecoin. Tether has been embroiled in legal and financial wrangling through much of its short history. There have been lawsuits over alleged market manipulation, charges by the New York State attorney general that Tether lied about its reserves — costing the firm $18.5 million in fines in 2021 — and this year, questions voiced by United States Treasury Secretary Janet Yellen as to whether USDT could maintain its peg to the U.S. dollar. More recently, investment short sellers “have been ramping up their bets against Tether,” the Wall Street Journal reported on June 27. But, Tether has weathered all those storms and seems to keep mov...
Tether fortifies its reserves: Will it silence critics, mollify investors?
There is an old Arabic proverb: “The dogs bark, but the caravan moves on.” It could summarize the journey to date of Tether (USDT), the world’s largest stablecoin. Tether has been embroiled in legal and financial wrangling through much of its short history. There have been lawsuits over alleged market manipulation, charges by the New York State attorney general that Tether lied about its reserves — costing the firm $18.5 million in fines in 2021 — and this year, questions voiced by United States Treasury Secretary Janet Yellen as to whether USDT could maintain its peg to the U.S. dollar. More recently, investment short sellers “have been ramping up their bets against Tether,” the Wall Street Journal reported on June 27. But, Tether has weathered all those storms and seems to keep mov...
US crypto regulation bill aims to bring greater clarity to DAOs
On June 7, United States Senators Cynthia Lummis and Kirsten Gillibrand launched the much anticipated Responsible Financial Innovation Act, proposing a comprehensive set of regulations that address some of the biggest questions facing the digital assets sector. By providing holistic guidance to the rapidly growing industry, the bill offers a bipartisan response to President Biden’s call for a whole-of-government approach to regulating crypto. Among its many proposals, the bill establishes basic definitions, provides an exemption for digital currency transactions and harmonizes the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), delineating regulatory swim lanes and granting a significant jurisdictional expansion to the CFTC. The bi...
Affyn’s “Generation Zero” NFT Collection sells out in 100 seconds
Affyn, a Singapore-based company using blockchain-powered technology to develop mobile games with integrated geolocation and augmented reality capability, has sold out its “Generation Zero” NFT Collection within 100 seconds. The collection which featured a set of 400 “Generation Zero Buddies” (Gen 0) NFTs has been completely sold out in a record time. The NFTs are duped “Buddies” and are the first set to enter Affyn’s NEXUS World Metaverse. Affyn’s “Generation Zero” NFTs utility Contrary to existing NFTs that have very limited utility, Affyn’s “Generation Zero” NFTs will be interoperable across different blockchain games and metaverses. The first set of the “Buddies” NFTs sold for 2,995 FYN tokens per piece and featured scarce design and a rarity categorized as “Mythical.” Affyn’s NFTs gai...
NEOPIN signs strategic partnership with Cube Entertainment
Singapore, Singapore, 7th July, 2022, Chainwire Mutual agreement on information exchange, joint marketing, and service development Collaborative efforts in the establishment of global blockchain business and ecosystem NEOPIN, a blockchain subsidiary of NEOWIZ Holdings(KOSDAQ: 042420), announced on July 7th that it has signed a strategic partnership with Cube Entertainment (hereinafter “Cube”) to establish a global blockchain ecosystem. The two entities plan to cooperate in all areas of blockchain business and ecosystem through the exchange of information on blockchain technology, cooperation in service development, and marketing campaigns to expand into the global market. Cube, one of the largest entertainment companies in South Korea with top-notch artists such as BTOB, (G)I-DLE, an...
Angle Protocol partners with Plenty to bring agEUR to the Tezos ecosystem
SAN MATEO, CALIFORNIA, 7th July, 2022, Chainwire Popular Euro stablecoin on Ethereum, agEUR can now be bridged to Tezos ecosystem through the Plenty bridge. Users can access the bridge at plentydefi.com/bridge and bridge their agEUR from Ethereum to Tezos. Along with the agEUR.e, the bridged token on Tezos, Plenty has also launched a Euro stable pair agEUR.e-EURl and a farm to incentivise the liquidity on their decentralized exchange. Tezos users can now send and trade Euros with very low fees. This is however just a first step. Plenty has partnered with Angle Protocol, a decentralized stablecoin protocol, to unlock the full potential of Tezos by solidifying agEUR as the market’s leading Euro stablecoin, useful across a wide range of DeFi use cases including buying NFTs or salary compensat...
A mandate for blockchain businesses is to rebuild global trust
Given the tumultuous times for humanity, blockchain must be mandated not as an alternative but as an incumbent to enable confidence and build trust. Trust is the cornerstone of socioeconomic success and geopolitical balance. Our current world is exhibiting a massive trust deficit. Distrust is resulting in socioeconomic failures and geopolitical angst. Blockchain’s superpower is trust. It is time to mandate blockchain businesses to rebuild trust, success and balance across global systems. Geopolitical agitations, the war in Ukraine and elsewhere, famine, climate crisis, inflation, supply chain problems, and financial market turmoil are a few of humanity’s many challenges today. Let’s talk about trust The world is in need of and must trust again. Blockchain is a technology built upon integra...
A mandate for blockchain businesses is to rebuild global trust
Trust is the cornerstone of socioeconomic success and geopolitical balance. Our current world is exhibiting a massive trust deficit. Distrust is resulting in socioeconomic failures and geopolitical angst. Blockchain’s superpower is trust. It is time to mandate blockchain businesses to rebuild trust, success and balance across global systems. Geopolitical agitations, the war in Ukraine and elsewhere, famine, climate crisis, inflation, supply chain problems, and financial market turmoil are a few of humanity’s many challenges today. Let’s talk about trust The world is in need of and must trust again. Blockchain is a technology built upon integrated trust. Where there is trust, there can be progress. Given these tumultuous times, blockchain must be treated not as an alternative but as an incu...
